Why is it that..

[irokcj5]

our Royal Ruler does not do anything to stop the bleeding in the country's oil business?? Saudi is pumping oil in historic proportions, and we're still giving them billions and dont say a word, now we're going to lift sanctions on Iran, while at the same time giving them BILLIONS which they say their going to use to boost oil product to regain world market share. This only means one thing...we've not seen the likes of a bust this bad in our lifetimes. I remember the '80s and I think this is going to cut much deeper and for a lot longer. Why don't we have a gov't that will at least try to put pressure on these American hating countries to stop trying to monopolize the world oil market. Seeing too many friends get laid off, and we're all just waiting for the ax to drop. Sad thing is there are no jobs to be had. This is really bad.

[Feesherman]

Oil has always been volatile. The wise oil hand saves for the low times. Most don't though.

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[irokcj5]

Yes you are right. From the very beginning of oil discovery. Most I know have their savings in 401k because of no more pensions. None of that savings is available to them. If the worst happens, I have maybe 6 months, but that will probably not be enough to wait out the bust. That wasn't the point of the question though. I think we have a government that is complicit in destroying the oil business which is why this one is probably going to be deeper and longer than anyone can remember. More than oil hands are going to get hurt.

[Feesherman]

I don't understand ur reliance on the government. The oil business, like all business in this country, is a free enterprise.

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[Andy C]

Originally Posted by Feesherman

I don't understand ur reliance on the government. The oil business, like all business in this country, is a free enterprise.

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That's not a completely true statement, oil is so heavily reg. By the gov. They control who and where you can drill/produce, and how you have to do it. And if we are dependent on over seas oil we as a people are easier to control and have there agendas stuffed down or thoughts

Back to op it's because they feel oil is bad, and feel everyone should be green because they thing it's the right thing for you.

Yes oil will always violate as long as US oil is on the global market, to many other countries with way less to no reg. On drilling/production so it's way cheaper.

[jopete]

thank everybody who voted for that treasonous president and his minions.

[Pull n Pray]

Because oil has been artificially too high for too long. This caused a huge boom and world wide supplies have sky rocketed. US production is at a all time high. There is simply too much oil being produced right now. Its simple supply and demand.

[fishfish]

Because outside of us in the oil industry, I have 19 years in, the rest of the country loves these low oil prices.

[seachaser250]

Originally Posted by Pull n Pray

Because oil has been artificially too high for too long. This caused a huge boom and world wide supplies have sky rocketed. US production is at a all time high. There is simply too much oil being produced right now. Its simple supply and demand.

Exactly!!! Oil doesn't need to be $30 a barrel but it doesn't need to be 80 either.

There is a medium where everyone can prosper and see a reasonable price at the pump.

[duckman1911]

Originally Posted by seachaser250

Exactly!!! Oil doesn't need to be $30 a barrel but it doesn't need to be 80 either.

There is a medium where everyone can prosper and see a reasonable price at the pump.

Yep. Yeah it's great to fill up with the prices we have now but I'll gladly pay a little more if that means my oil field friends get to keep their jobs.

[cajun bill]

Originally Posted by duckman1911

Yep. Yeah it's great to fill up with the prices we have now but I'll gladly pay a little more if that means my oil field friends get to keep their jobs.

........Most peeps blame "big oil" when the price is high, but from what I've read, their profit margin is low compared to what we have to pay for the fuel taxes paid to the state and the feds.